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  • #17,101
  • Apr 19, 2013 4:42am Apr 19, 2013 4:42am
EURUSD analysis 19th.april.2013.

EURUSD has been trading in an upward channel just next to the right shoulder of giant head and shoulders pattern. That puts the pair in a peculiar situation. 3000 and 3115 are crucial levels for CONTINUATION/REVERSAL. Break of 3115-25 zone will put the pair to the upside again targeting 3180-3200. If the pair breaks 3000 to the downside it validates H & S pattern and target is 2940-20 region.

Remember thou that today is Friday.

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  • #17,102
  • Apr 22, 2013 4:22am Apr 22, 2013 4:22am
Today we have the same situation as on Friday. Sideways trading with bearish bias at the moment. EU needs to b below 3050 to continue downtrend and above 3115 zone to continue an uptrend. 3000-20 is the area to look for if we have a second swing down.
  • #17,103
  • Apr 22, 2013 5:22am Apr 22, 2013 5:22am
On USDJPY pairs we have a possibility for a long BPC pattern @ 99.90. Targets are 100.20 and 100.50. Stops around 99.45.

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  • #17,104
  • Apr 22, 2013 5:42am Apr 22, 2013 5:42am
As far as EURUSD is concerned sell into rallies scenario prevails. 3050-60 zone has been good for sell setups as per 2nd swing pullback on lower timeframes.
  • #17,105
  • Apr 22, 2013 1:46pm Apr 22, 2013 1:46pm
SO today sell on rallies was very good for EURUSD. Target 3015 has been reached. USDJPY has been sold but has been bough heavily around 99.00 level. My scenario for BPC at break of 99.90 is still valid and targets remain the same.
  • #17,106
  • Apr 23, 2013 3:48am Apr 23, 2013 3:48am
Quoting T@rantula
EURUSD analysis 19th.april.2013. EURUSD has been trading in an upward channel just next to the right shoulder of giant head and shoulders pattern. That puts the pair in a peculiar situation. 3000 and 3115 are crucial levels for CONTINUATION/REVERSAL. Break of 3115-25 zone will put the pair to the upside again targeting 3180-3200. If the pair breaks 3000 to the downside it validates H & S pattern and target is 2940-20 region. Remember thou that today is Friday. {image}
This post was made on Friday. As we can see H & S pattern has been valid and all rallies have been sold. Sell into rallies is still the way to go as yesterday. Id like to see a PB around 3015-20 are where id look for another swing down opportunities.
  • #17,107
  • Apr 23, 2013 3:55am Apr 23, 2013 3:55am
Head and shoulders breakout and target zone 2920.

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  • #17,108
  • Apr 23, 2013 3:59am Apr 23, 2013 3:59am
Quoting T@rantula
Head and shoulders breakout and target zone 2920. {image}
Below 2940 I suspect we will fall further to 2843 level but more so towards 1.25xx in the mid term.

Edit: 1.3000 is resistance
  • #17,109
  • Apr 23, 2013 4:12am Apr 23, 2013 4:12am
Quoting jaylovin
{quote} Below 2940 I suspect we will fall further to 2843 level but more so towards 1.25xx in the mid term. Edit: 1.3000 is resistance
Yes Jay, 3000 is resistance, yet what they did last few months is to clear the stops above/below s/r levels. Thats why we need to give some room for additional PBs just in case we use a tight stop
  • #17,110
  • Apr 23, 2013 4:24am Apr 23, 2013 4:24am
Quoting T@rantula
{quote} Yes Jay, 3000 is resistance, yet what they did last few months is to clear the stops above/below s/r levels. Thats why we need to give some room for additional PBs just in case we use a tight stop
Agree. 3125 was the perfect entry I missed it.. 3067 is the gate for bulls to get more drive. But more than likely 1.25 will hit first. Think of ways for market to screw you

Edit: sorry typing from iPhone. 1.25 is more likely than us seeing 1.3360. Usdx has room to hit 92 on monthly that's a long way down for euro if it plays out
  • #17,111
  • Apr 23, 2013 7:35am Apr 23, 2013 7:35am
3000 is hourly resistance and 23.6 fib of last swing down. Good place to put 2nd swing short and if 2970 breaks move SL to BE after scaling out.
  • #17,112
  • Apr 23, 2013 8:43am Apr 23, 2013 8:43am
2nd swing was 3000 to 2978. We are in the third swing. Entry zone 3030-15 as we have 38.2 fib and 50 fib resistance.
  • #17,113
  • Apr 23, 2013 11:31am Apr 23, 2013 11:31am
Quoting T@rantula
2nd swing was 3000 to 2978. We are in the third swing. Entry zone 3030-15 as we have 38.2 fib and 50 fib resistance.
I had 3025 but I think 3067 will hit and reverse this back down - 2970 did not hit. So this is a stop hunt
  • #17,114
  • Edited 4:38pm Apr 23, 2013 4:17pm | Edited 4:38pm
Quoting T@rantula
2nd swing was 3000 to 2978. We are in the third swing. Entry zone 3030-15 as we have 38.2 fib and 50 fib resistance.
Quoting jaylovin
{quote} I had 3025 but I think 3067 will hit and reverse this back down - 2970 did not hit. So this is a stop hunt
Hmm..not exactly stop hunt. It was a retracement in the 3rd bearish swing. The drop was 100 pips and really 23.6 was negligible retrace for the direct drop.So 50.fib and EMAs held the rally and we could have seen a nice drop to 2987.

Now...many traders have been asking me where to take profit. I will explain that in Support and Resistance webinar so it would be nice if all interested attend it.
  • #17,115
  • Edited 5:39pm Apr 23, 2013 5:01pm | Edited 5:39pm
Quoting T@rantula
{quote} {quote} Hmm..not exactly stop hunt. It was a retracement in the 3rd bearish swing. The drop was 100 pips and really 23.6 was negligible retrace for the direct drop.So 50.fib and EMAs held the rally and we could have seen a nice drop to 2987. Now...many traders have been asking me where to take profit. I will explain that in Support and Resistance webinar so it would be nice if all interested attend it.
Would love to but no time for now. Watching 3067 for a bear trigger.. 2940 is the gateway down for euro.

Looking longer term below 2350 will open the gateway to hell for euro.. Final straw to hang onto is 1.21 then goodbye..

Charts show lots of interest in the 25-2600 level for a big bull move up. React people so for now patience and party time !!!!!\


EDIT: Just looked at charts... euro is bullish... 2940 watch this level... i'm out wasted goodnight
  • #17,116
  • Apr 24, 2013 3:06am Apr 24, 2013 3:06am
Here we are..2950 reached, took some time thou but we can say that we have reached 2950 zone which is crucial for 2920 continuation if it breaks.
  • #17,117
  • Apr 24, 2013 3:49am Apr 24, 2013 3:49am
Strong rebound off of 2950..3020-30 region may be good for short setups again and is good for short setups. If it breaks thru 3030 above we may expect 3070.

The thing is all the bad news have already been included in the price thus the rebound off the strong level. Im paying attention to 3020-3030 region either for bounce or reversal.
  • #17,118
  • Apr 24, 2013 8:04am Apr 24, 2013 8:04am
SO 3020-30 region was again good for a sell. No retest of 3030 but still no break of 2950. I will trade either a break of 2950 or 3030 on retest (BPC)
  • #17,119
  • Edited 4:26am Apr 25, 2013 4:14am | Edited 4:26am
Quoting T@rantula
Strong rebound off of 2950..3020-30 region may be good for short setups again and is good for short setups. If it breaks thru 3030 above we may expect 3070. The thing is all the bad news have already been included in the price thus the rebound off the strong level. Im paying attention to 3020-3030 region either for bounce or reversal.
Quoting T@rantula
SO 3020-30 region was again good for a sell. No retest of 3030 but still no break of 2950. I will trade either a break of 2950 or 3030 on retest (BPC)
AND here we are, I have marked BPC pattern on the chart and its more visible if u zoom into lower timeframes. Great trending day.

You can also read the analysis on my Forex Blog.
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  • #17,120
  • Apr 25, 2013 6:30am Apr 25, 2013 6:30am
Today Chris and I will be holding a completely FREE WEBINAR about divergence and how to trade divergence so everyone interested in it ARE FREE to JOIN.

We will share the knowledge with you.

YOU CAN SIGN UP HERE.
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